Common use of Set-Off Dispute Clause in Contracts

Set-Off Dispute. If the parties cannot agree on the offset amount, the Claiming Party shall have the right to deposit or cause the New LLC to deposit any sums owed or to be paid by the Claiming Party or the New LLC to the Off-set Party that equal the offset amount into an interest-bearing escrow which shall be established at an escrow agent (the “Escrow Agent”) mutually acceptable to the Claiming Party, on the one hand, and the Off-set Party, on the other hand. The terms and conditions of such escrow account shall be acceptable to the Claiming Party and the Off-set Party and the Escrow Agent. The Escrow Agent shall hold such funds pending its receipt of instructions from either (i) the Claiming Party and the Off-set Party, or (ii) an arbitrator or a court of competent jurisdiction, directing it as to the disposition of such funds.

Set-Off Dispute. If the parties cannot agree on the offset amount, the Claiming NovaMed Indemnified Party shall have the right to deposit or cause the New LLC Company to deposit any sums owed or to be paid by the Claiming NovaMed Indemnified Party or the New LLC Company to the Off-set Party that equal the offset amount into an interest-bearing escrow which shall be established at an escrow agent (the “Escrow Agent”) mutually acceptable to the Claiming Party, on the one hand, NovaMed Indemnified Party and the Off-set Party, on the other hand. The terms and conditions of such escrow account shall be acceptable to the Claiming NovaMed Indemnified Party and the Off-set Party and the Escrow Agent. The Escrow Agent shall hold such funds pending its receipt of instructions from either (i) the Claiming NovaMed Indemnified Party and the Off-set Party, or (ii) an arbitrator or a court of competent jurisdiction, directing it as to the disposition of such funds.

Set-Off Dispute. If the parties cannot agree on the offset amount, the Claiming Party Buyer shall have the right to deposit or cause the New LLC Company to deposit any sums owed or to be paid by the Claiming Party Buyer or the New LLC Company to the Off-set Party that equal the offset amount into an interest-bearing escrow which shall be established at an escrow agent (the “Escrow Agent”) mutually acceptable to the Claiming PartyBuyer, on the one hand, and the Off-set Party, on the other hand. The terms and conditions of such escrow account shall be acceptable to the Claiming Party Buyer and the Off-set Party and the Escrow Agent. The Escrow Agent shall hold such funds pending its receipt of instructions from either (i) the Claiming Party Buyer and the Off-set Party, or (ii) an arbitrator or a court of competent jurisdiction, directing it as to the disposition of such funds.